Where Does One Draw the "Liberal-tarian" Line?
Posted on June 9th, 2008 by Kip
I don’t think it’s supposed to be here:
Democratic presidential candidate Barack Obama sought to tap into Americans’ anxiety over high gasoline prices on Monday by saying he would impose a windfall profits tax on U.S. oil companies if elected.
…
“I’ll make oil companies like Exxon pay a tax on their windfall profits, and we’ll use the money to help families pay for their skyrocketing energy costs and other bills,” the Illinois senator said.
I was sure that a post-Clinton Obama would immediately move to the center and refrain from blathering hopeless gobbledygook like this. I hope this one issue is an isolated exception and not a sign of things to come.
I especially chuckled at this — apparently from the same speech:
Obama said he would seek a reform of the U.S. tax code if elected in November, saying the current tax system is a “10,000-page monstrosity.”
But of course reform can only come after Obama first adds his “liberaltarian” 10,001st page on behalf of the ignoranti who irrationally loathe Exxon — and, vicariously, themselves.
Filed under: Activist Legislators & Nanny Statists, Economics & Finance, Politics, Taxation & Fiscal Policy
I don't think he can turn the gobbledygook off. I think he's a true believer. Which, given what he believes in, scares the hell out of me.
The manufacturing guys over at Evolving Excellence had a good post today on "big oil" relatively low profit margins, but with a twist. Did you know the endowments of Harvard, Yale, and others went up over 20% last year? Those private universities are just sitting on the cash, while Big Oil is at least reinvesting in new energy sources (even green) and paying dividends to help support little old ladies in retirement. They reference one WaPo article that says Big Oil profit could educate 60,000 kids… well the increasing endowments at Harvard could let Harvard build a dozen more Harvards and educate that many kids each year. Who should get nailed with a windfall profits tax?
Evolving Excellence article
Ken